Turkey needs micro reforms for welfare: Minister

BATMAN

Turkish Finance Minister Mehmet Şimşek adresses a crowd in the southeastern province of Batman. AA Photo

Turkey will only be able to attain its desired level of welfare by introducing micro reforms for its economy needs, Finance Minister Mehmet Şimşek has said, declaring the Kurdish peace process as a key component to the reforms during an address in southeastern Turkey.

“A truly permanent welfare boost can be achieved only if stability will be supported with reforms,” the minister said at an award ceremony in Batman on Nov. 29.

He said Turkey used to have macro problems in the 1990s but that the issues had been solved with government reforms.

“Now there is a need for sectorial, company and micro reforms,” he said. “That’s why we have been working for a year under the leadership of Deputy Prime Minister Ali Babacan,” he said, referring to the vast and detailed economic program unveiled by the government.

Earlier in November, the government announced the first nine programs of a detailed economic transformation plan that is aimed at reaching ambitious economic goals and boosting the economy.

First, the government announced nine of the 25 transformational programs, which aims at fostering Turkey’s local production capabilities by 417 action plans.

According to Şimşek, the plans not only cover economic fields but also have a political and social side, with the settlement of the decades-long Kurdish conflict in eastern Turkey being the top priority.

“A very important micro-level reform program that comprises making Turkey more transparent has been prepared,” he said, noting that the reforms had economic and other pillars. “If you ask what the most important reform for Turkey is, it is the [Kurdish] resolution process,” the minister said.